HERE'S SOME COOL NEWS

for those looking to beat the heat: Thanks to a glut of rebates and tax credits, those looking to replace or upgrade their air-conditioning system this summer are likely to find some good deals.

The biggest incentives are being offered by utility companies and government groups. "[Utility] companies know that having an old, inefficient air conditioner on the power grid wastes a lot of energy," explains Rozanne Weissman, a spokeswoman for the Alliance to Save Energy. Old units require extra energy production during an already high-demand season, increasing the likelihood of rolling and emergency blackouts. (That's also why many programs for window air conditioners require you to turn in your old unit.)

For more on snagging the tax credit, click here

To find rebates in your area, check with both your utility company and your state's energy department.

Central Air Conditioners

Start your search for savings with the federal tax credit for energy-efficient home improvements. Under the Energy Policy Act, consumers can claim tax credits totaling up to $500 for select projects completed by the end of 2007. Central air conditioners with a minimum seasonal energy efficiency ratio (SEER) of 15 and energy efficiency ratio (EER) of 12.5 are eligible for a credit of up to $300 toward the full purchase price, including installation costs.

It's no simple selection those criteria even knock out a few Energy Star models, says Harvey Sachs, director of building programs for the American Council for an Energy Efficient Economy. To find a system that fits the guidelines, talk to your contractor, or use Energy Star guidelines to decipher the Consortium for Energy Efficiency's product directory.

More savings can be had at the local level. Here are some of the biggest rebates on the market this summer:

Window Air Conditioners

There's no federal tax credit for these units, but local rebates can be just as enticing. A Los Angeles resident spending $130 on a 5,300-BTU, Energy-Star compliant Kenmore window unit could get $50 back from their local utility company a savings of 39%.

Here are some of the biggest rebates on the market this summer: